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Aug 11

Reaching Your Audience Effectively in the 21st Century The new media landscape and how it affects your business

The marketing industry has changed drastically over the past 10 years. The digital revolutionhas taken over our lives in more ways than we’re comfortable admitting: our relationships, ourweight, our health, our livelihoods. We live in a digital world. But it’s not just you and I, yourconsumers live there, too. So, they need to be able to find your business there as well - andwhen they find it, they need to like what they see. If they don’t, the likelihood of them everstepping through your doors or calling your phone are bleak at best. Yet, most businesses arestill focusing their marketing efforts on traditional media outlets. It’s time to take a look at whereyour consumers are and rethink our strategy.Who is your ideal consumer? Are you targeting:

Mothers?

Men between 25-40?

People who recently got engaged?

Small businesses?

People who are in the market for a new vehicle?

Home-owners?

Parents of children under 10?

People who enjoy yoga?

People within 5 miles of your establishment?

It’s important to know who exactly you are trying to reach - and not just their age and gender,but identifying them on a more personal level. We are bombarded with marketing content everyday, so it’s important that yours is relevant to the person seeing it if you want it to have anyimpact whatsoever. But, where does your ideal consumer spend their time?Recent studies show that we now spend 6.5 hours online every day and our time spent withmedia has dramatically shifted. Our daily media consumption now looks something like this:

Due to the overwhelming migration to digital media, traditional media has sufferedtremendously: Television is down 9-39% depending on the demographic, online radio hascommanded 44% of the market share and newspaper circulation has dropped for over 15 yearsconsecutively. Although viewership has dropped significantly, rates have not.In marketing, we determine rates by calculating how many individuals will see your marketingmessage (reach). All marketing mediums can be measured in a cost per thousand, notated asCPM (Cost per Mille). Here’s how the platforms measure up:

By this point, you should be able to identify which marketing platforms your demographic usesmost and the most cost effective ways to reach them. This should start to define your marketingstrategy.

The next step is to understand your budget. The US Small Business Association recommendsbusinesses with annual gross sales revenue of less than $5 million allocate 8% towards theirmarketing efforts. For businesses at the million dollar mark, that’s a recommended $80,000annual marketing budget. Marketing at this level will create the desired growth when executedproperly - guaranteed.

Well defined business goals should shape your marketing strategy. Are you:

Building brand awareness?

Increasing website traffic?

Expanding your email list?

Growing your social media presence?

Generating leads?

Educating your consumer?

Staying competitive in your industry?

It’s imperative to understand how each marketing medium supports your goals in order to createa marketing strategy that does more than capture eyeballs, it inspires action and gently movesyour consumer through the buying cycle. Consider these media platforms your businessexpansion tools. Put them in the hands of the right craftsman (or woman), and create amasterpiece!

For help growing your business effectively, contact us today: ciao@biqimarketing.com